BUSINESS
Bengaluru metro station on airport route dropped after real estate firm backs out
The Bettahalasur station was pencilled into the Outer Ring Road-Airport Metro route connecting the city to the Kempegowda International Airport.
BUSINESS
World Bank's IFC partially exits Puravankara's affordable housing project, clocking 20% return
The project IFC partially exited from is Tivoli Hills, Bengaluru, spread across 60 acres, 80 percent sold, and in the final stage of development
BUSINESS
Aparna Constructions to launch 4 residential projects in Hyderabad with investment of around Rs 800 crore
The four projects sprawl across 15-plus acres and will be launched on December 3
BUSINESS
Provident Housing to develop townships in Bengaluru, Chennai; to construct 6.5 million square feet
The Purvankara firm will launch the projects in the next three months with Rs 2,000 crore of construction value and an expected revenue generation of about Rs 4,200 crore.
BUSINESS
DigiYatra data will be saved in decentralised manner: Jyotiraditya Scindia
The government on Thursday launched DigiYatra, which is based on facial recognition technology for air passengers, at Delhi, Bangalore and Varanasi airports.
BUSINESS
Sustainability, tech needed in construction sector to achieve net-zero by 2070: Housing Minister HS Puri
Real estate summit, Brigade Reap, in Bengaluru sparked several debates on the need for an accessible data-exchange platform, and weather-mapped tech in the construction sector. Additionally, the panelists urged for a streamlined C&D waste recycling model.
BUSINESS
Apartment owners cannot assemble to obstruct demolition drives: Karnataka HC
BBMP said the department has removed more than 2,000 encroachments in Bengaluru and is currently looking at more demolitions in the KR Puram and Mahadevapura areas.
BUSINESS
Shriram Properties acquires Suvilas Realties, two delayed projects in Bengaluru
The acquisition has helped the company to secure two delayed projects in Bengaluru and will allow Shriram Properties to develop 0.65 million square feet (msf) with potential revenue of Rs 400 crore
BUSINESS
MC Explains | Can apartment owners arbitrarily hike rent in 11-month rental period?
Bengaluru is seeing rising instances of landlords increasing rents in the middle of the contract period. However, lawyers say they cannot do so and even cannot mention the hike percentage for renewal of the contract.
INDIA
Meghalaya clash not border dispute, says Assam CM
He said timber was being smuggled and when forest officials tried to stop the vehicle "a conflict arose" between local people and police.
BUSINESS
Construction costs of greenfield projects climbed 5-7% in Q3 2022: Report
CBRE says to build a green real estate sector the integration of environmental assessments and real estate planning is crucial.
POLITICS
Hate speech case: Azam Khan granted regular bail
Khan was disqualified from the Uttar Pradesh Assembly following his conviction and sentencing in the case.
BUSINESS
Karnataka Housing Board to launch 2,000-acre township in Bengaluru by mid-2023
Construction of another 1,000-acre township is 50 percent complete. Also in the pipeline is a 1,000-acre township ahead of Bannerghatta National Park.
BUSINESS
India imports 23.4 lakh tons of fertiliser in October
Out of the total fertiliser imports, DAP was maximum at 14.70 lakh tonne, followed by urea at 4.60 lakh tonne, Muriate of Potash (MoP) at 2.36 lakh tonne and complexes at 1.70 lakh tonne in the said month, the data showed.
BUSINESS
IT raids land owners in Bengaluru, Mumbai, Goa; seizes Rs 1,300 crore
The CBDT has found that several land owners had hidden their income from the transfer of land, as well inflated costs, to show reduced capital gains.
BUSINESS
Bengaluru tenants witness up to 45% rent surge, even in areas once considered dormitory suburbs
Realtors say rents for residential accommodation around the central business district is increasing radically, pushing up demand and lease rates in areas relatively farther from the city centre. The recurrent instances of flooding too is redrawing the city’s real estate map.
BUSINESS
MC Explains: Can apartment associations disconnect power, water supply of homebuyers defaulting on maintenance?
Officials at the additional registrar of cooperative societies, Karnataka, where there have been several such instances, said the department has already received a clarification from the state government on the contentious Karnataka Apartment Ownership Act, 1972.
BUSINESS
Karnataka authorities serve notice, seize land assets of developer in a delayed project in Bengaluru
Homebuyers say they have to wait for inordinately long periods of time to get judgments from KRERA. Even those who struggled a lot to bring KRERA to Karnataka are waiting for judgments on their cases.
BUSINESS
Karnataka homebuyers file multiple Lokayukta complaints against KRERA
The homebuyers have accused the KRERA chief of issuing misleading orders and dereliction of duty.
BUSINESS
Enforcement Directorate attaches assets worth Rs 50 crore of Salarpuria Sattva Group
ED said these funds were rerouted back into the real estate company through their group non-banking financial company (NBFC) registered in Kolkata.
BUSINESS
Puravankara clocks 43% more sales in H1 2022, records net loss of Rs 17 crore
The company says the loss will be recaptured when it delivers five projects with 1500 units over the next two quarters.
BUSINESS
MC Explains: How soon will Mysuru catch up with Bengaluru as a real estate hub?
Real estate and land prices in Mysuru have shot up in the last few months as the government looks to develop more land parcels and several industrial growth plans, including a semiconductor hub, offer a promise of future development
BUSINESS
MS Ramaiah Developers to invest Rs 1,100 cr; to foray into Goa, Andhra Pradesh
In Bengaluru, the company is focussing on commercial projects in the north of the city. It also plans to invest Rs 200 crore in delayed projects across the metropolis.
BUSINESS
MC Explains: How will Delhi-NCR construction ban affect the real estate sector?
The construction ban may lead to a rise in prices across the real estate sector in the region. However, experts say key policy changes are the core to solving this recurring problem in the region.
